Everest Group defines Intelligent Document Processing (IDP) as the capturing of data from documents (e.g., emails, texts, PDFs, and scanned documents) and its categorization and extraction for further processing using AI technologies such as computer vision, Optical Character Recognition (OCR), Natural Language Processing (NLP), and machine/deep learning. These solutions not only help enterprises achieve cost savings, but also improve their productivity and employee and customer experience.

The IDP technology provider market is growing rapidly, with many providers seeking to address complex document processing use cases. With increasing applications across business functions and verticals, IDP products are rapidly becoming more sophisticated in their capabilities, features, and functionalities. The impact of COVID-19 on rethinking business continuity and resilience, remote working models, and digitalization has further driven demand.

This research provides IDP buyers, software vendors, and third-party enablers (service providers and system integrators) a detailed view of the IDP market by analyzing it across dimensions such as market size and adoption trends, buyer satisfaction, product capabilities and trends, solution characteristics, provider landscape, challenges to IDP adoption, and outlook for 2022-23.

Scope

• All geographies and industries
• IDP software products that leverage AI / cognitive capabilities and are available for independent licensing have been considered for this report. These products are offered as either platforms that allow enterprises to deploy them as out-of-the box solutions using pre-built modules or as custom solutions that help classify and extract data from documents
• We have analyzed the following technology providers as part of this report: ABBYY, Appian, Alkymi, AntWorks, Automation Anywhere, Celaton, codemantra, Datamatics, Docvu.AI, EdgeVerve, Eigen Technologies, Ephesoft, Evolution AI, FOSFOR by LTI, HCL Technologies, Hypatos, Hyperscience, IBM, Indico Data, Infrrd, JIFFY.ai, KnowledgeLake, Kofax, KoiReader, Laiye, Microsoft, Nividous, OpenBots, Parascript, Parashift, qBotica, Rossum, Singularity Systems, Straive, UiPath, and WorkFusion

Contents

In this research, we study the following topics:

• Introduction to IDP
• IDP market characteristics
• Buyer expectations
• IDP product capabilities and trends
• IDP solution characteristics
• IDP provider landscape
• Challenges to IDP adoption
• Best practices
• Outlook for 2022-23

Membership(s)

Service Optimization Technologies (SOT)

Sourcing and Vendor Management